Take the first step toward the right mortgage.

 

How To Buy A House In 12 Steps

Most home sales involve the following 12 steps:

1. Decide Whether You’re Ready to Buy A Home
2. Calculate How Much House You Can Afford
3. Save For A Down Payment And Closing Costs
4. Get Preapproved For A Mortgage
5. Find The Right Real Estate Agent
6. Begin House Hunting
7. Make An Offer On A House
8. Get A Home Inspection
9. Get A Home Appraisal
10. Ask For Repairs Or Credits
11. Do A Final Walkthrough
12. Close On Your New Home

Take the first step toward the right mortgage.

What can you do as a real estate agent?

 

Real estate agents may do some or all of the following:

• advertise and market properties.
• arrange and host open homes.
• build relationships with sellers and buyers.
• complete sales and negotiate contracts.
• research the housing market and property values.
• organize building inspections and reports.

Don't overpay your Agent: First-time homeowners are most at risk of overpaying on their house.

For the record “are agents worth 6%?” is not what I want to talk about. There are clearly many many people who think the answer is no and working on solutions to change that. Many years and lots of money has been spent by some incredibly smart people trying to change the economics of real estate.

Why? Because those people are just recounting their experiences, all of which included an agent. Point being, there is an incredibly strong social pressure to use an agent, since everyone else has — and you don’t want to be the sucker who tried to do it on your own, and got screwed out of $50,000 or $100,000 (or some other high $$ amount).

Buying a house is the biggest financial transaction most of us will ever make, and people can experience both positive and negative outcomes for decades afterward. The most important factor that determines whether the purchase was a success is the value of the home. After all, whether the price was $100,000, or $1,000,000, paying too much for a property is a bad deal.

The first red flag home buyers should be aware of when it comes to getting a fair price are the prices of homes in the same or similar neighborhoods. Rather than looking at what comparable homes are valued at, buyers should instead look at what people actually paid for similar homes most recently.

If a home is significantly more (or less!) than comparable homes in the nearby area, make sure to ask your realtor or real estate agency why. Depending on their answer, you may be able to negotiate a price more in line with the area's present market value.

A real estate agent will also have comprehensive knowledge of the market, allowing them to tell you exactly what a fair price is in the area you're looking at. When it comes to the life-altering decision of buying a home, sometimes it's simply easier to leave it to the professionals. 

What's Hurting Your Credit Score

Why the Pandemic May Be Hurting Your Credit Score

Common causes of a bad credit rating include failing to stick to your credit agreement, paying the bare minimum on your credit card each month, and falling victim to identity theft.

RSVP Today! 2021 Commercial Real Estate Forum

On February 17th, a panel of experts will weigh in on the latest developments and how the LA market will be impacted this year. Register below

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Is is time to buy a house?

The coronavirus pandemic sent shock waves throughout the real-estate industry. But does that make now a good time to put in an offer on a property?
The answer to that question will largely depend on what you plan to do with the home — particularly if you’re an investor.
But finding homes at a good price could be something of a challenge.
When the coronavirus pandemic began to trigger stay-at-home orders across the country, it upended the home-buying process.

Deals Are Still Available, But Beware the Bidding War

There was a pandemic sweet spot when the market stalled, but right now, many houses are going to the best and highest offers ---houses offering wide open spaces are going for $50,000 or more above the asking price—and are typically bought in cash.

Proceed with caution if you find yourself in the midst of a bidding war. The supply of homes for sale in the U.S. has fallen to the lowest level since 2012. These conditions are associated with a ‘seller’s market’ and tend to drive higher prices. But overpaying for a house now will make it nearly impossible for you to turn a profit when you move out some day in the future.

Real estate market after COVID-19

If you hope to sell your home this year, the late summer or early fall might be a good time to try, according to realtor.com’s latest housing market forecast.

Even with the expected rebound, experts believe home sales will be down 15 percent for the year. Other expected trends include a migration out of large urban markets and into smaller cities, where density is lower and housing is more affordable.

The pandemic has distorted the spring housing market but, oddly, has not greatly affected its balance. While there are dramatically fewer buyers, there are also fewer homes for sale, as homeowners who want to sell are waiting if at all possible.

In the last month, mortgage underwriters have dramatically tightened requirements for getting approved for a loan. The reason? Loaning money suddenly looks a lot riskier due to surging unemployment and the CARES Act allowing homeowners to delay paying their mortgages.

Although qualifying for a loan will be harder to do, the realtor.com forecast predicts that finding a home for sale will still remain the largest hurdle for buyers for the remainder of the year.